With over $1.2 trillion in assets, Wells Fargo & Company is a highly diversified financial services company with operations spanning the globe. Wells Fargo is one of the four largest banks in the US and has a legacy spanning 150 years in the financial services sector. The company offers banking, insurance, investments and mortgage products through a large network of stores and other distribution channels. The company ranked fourth in assets and second in market value of its stock among its domestic peers for the year 2009.
Below we will share with you 5 top rated Wells Fargo funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all Wells Fargo funds, then click here.
Wells Fargo Advantage Specialized Financial Services A invests the majority of its assets in companies in the financial services sector. The companies invested in include commercial banks, insurance companies, companies in the financial service sector and those involved in consumer and industrial finance. The fund returned 67.79% over the last one year period.
The Wells Fargo fund has a minimum initial investment of $1,000 and an expense ratio of 1.35% compared to a category average of 1.73%.
Wells Fargo Advantage Discovery seeks long term capital growth. Equity securities of small and mid-cap companies with the potential for above average growth constitute the fund’s major investments. It may also invest in foreign equity securities using ADRs or similar instruments. The fund has a ten year annualized return of 5.52%.
James M. Leach is the fund manager and he has managed this Wells Fargo fund since 2003.
Wells Fargo Advantage Growth Balanced A (WFGBX - MF report) in both fixed-income and equity securities. Under normal circumstances, 65% of its assets are invested in equity and 35% is invested in debt. It aims to provide more consistent returns by using a multi-style investment approach. The fund has returned 44.17% over the last one year period.
The fund has an expense ratio of 1.20% compared to a category average of 1.02%.
Wells Fargo Advantage Enterprise seeks capital appreciation by investing primarily in mid-cap companies. It focuses on purchasing equity securities of companies within the range of the Russell Midcap index, but may invest in companies of all sizes. It may also invest in foreign securities. The fund has a five year annualized return of 3.84%
As of January 2010, this fund held 62 issues, with 2.66% of its total assets invested in Seagate Technology.
Wells Fargo Advantage Growth A (SGRAX) invests the majority of its assets in equity securities of companies with the potential for strong and sustainable growth. At least 80% of its assets are invested in foreign securities and up to 25% is parked in foreign securities via ADRs. The fund has returned 62.48% in the last one year period and has a three year annualized return of 4.01%.
Joseph Eberhardy is the fund manager and he has managed this Wells Fargo fund since 2008.
To view the Zacks Rank and past performance of all Wells Fargo funds, then click here.
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